The Elusive Quest for Growth : Economists' Adventures and Misadventures in the Tropics
Why economists' attempts to help poorer countries improve their economic well-being have failed.
Growth Definition Of Economics By Paul Samuelson
Why economists' attempts to help poorer countries improve their economic well-being have failed.Since the end of World War II, economists have tried to figure out how poor countries in the tropics could attain standards of living approaching those of countries in Europe and North America. Attempted remedies have included providing foreign aid, investing in machines, fostering education, controlling population growth, and making aid loans as well as forgiving those loans on condition of reforms. None of these solutions has delivered as promised. The problem is not the failure of economics, William Easterly argues, but the failure to apply economic principles